Dewan Farooque starts dispatching Honri EVs to Eco-Green Motors

In a significant milestone for its electric vehicle initiative, Dewan Farooque Motors Limited has announced the dispatch of the inaugural batch of its Honri EV electric vehicles to Eco-Green Motors Limited. This development was disclosed in a stock filing on October 11, marking an important step in the company’s commitment to the burgeoning electric vehicle market.
The official notice, sent to the Pakistan Stock Exchange (PSX), highlighted the company’s progress in its toll manufacturing venture. “In continuation of our earlier letter dated July 23, 2024, in which we outlined our plans for toll manufacturing of Electric Vehicles Honri EV, we are pleased to announce that, Al-Hamdullilah, Dewan Farooque Motors Limited is successfully assembling these vehicles. The first lot of Electric Vehicles has now been dispatched to Eco-Green Motors Limited,” the notice stated.
This development aligns with Dewan Farooque Motors’ strategic focus on innovation in automotive technology and its commitment to promoting sustainable transportation solutions across Pakistan.
Earlier this year, on May 30, 2024, the company formalized a toll manufacturing agreement with Eco-Green Motors, paving the way for the production of the Horn-EV models, which are designed with ranges of 200KM and 300KM. This agreement positions Dewan Farooque Motors as a frontrunner in the electric vehicle sector within the country. The production of these electric vehicles officially began in September at the company’s assembly plant, further cementing its role as a key player in the industry.
Founded in 1998 and part of the Yousuf Dewan Group, Dewan Farooque Motors has a rich history of collaboration with global automotive giants such as Hyundai and KIA, focusing on the assembly, manufacture, and sale of their vehicles in Pakistan. With this latest advancement in electric vehicle manufacturing, the company is poised to contribute significantly to the transition towards eco-friendly transportation solutions in the region.